Diversify Advisory Services LLC Makes New Investment in Analog Devices, Inc. $ADI

Diversify Advisory Services LLC purchased a new position in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 6,529 shares of the semiconductor company's stock, valued at approximately $2,428,000.

Other institutional investors have also modified their holdings of the company. Wealthfront Advisers LLC acquired a new position in Analog Devices in the 2nd quarter valued at $27,576,000. Cypress Asset Management Inc. TX boosted its holdings in shares of Analog Devices by 0.3% during the second quarter. Cypress Asset Management Inc. TX now owns 32,748 shares of the semiconductor company's stock worth $13,007,000 after purchasing an additional 83 shares during the last quarter. Main Street Financial Solutions LLC boosted its holdings in shares of Analog Devices by 139.6% during the second quarter. Main Street Financial Solutions LLC now owns 1,507 shares of the semiconductor company's stock worth $598,000 after purchasing an additional 878 shares during the last quarter. Hurlow Wealth Management Group Inc. purchased a new stake in shares of Analog Devices in the second quarter valued at $890,000. Finally, Mowery & Schoenfeld Wealth Management LLC acquired a new position in Analog Devices in the second quarter valued at $184,000. Institutional investors and hedge funds own 86.81% of the company's stock.

Key Stories Impacting Analog Devices

Here are the key news stories impacting Analog Devices this week:

• Positive Sentiment: Analysts expect fiscal Q3 earnings of approximately $3.33 per share, compared with $2.05 per share a year earlier. Several highly rated analysts have recently revised their forecasts, supporting expectations for continued earnings growth. Analog Devices likely to report higher Q3 earnings
• Positive Sentiment: Analog Devices enters the report after record recent revenue, expanding margins and strong free-cash-flow generation. Management previously targeted roughly $3.9 billion of fiscal Q3 revenue and adjusted EPS near $3.30, creating potential for a “beat and raise” reaction if results exceed those targets. Analog Devices stock rises as earnings target approaches
• Positive Sentiment: The industrial segment continues to benefit from factory modernization, electrification and robotics demand. Wall Street sentiment remains broadly favorable, including Cantor Fitzgerald’s reaffirmed Overweight rating and $550 price target. Can ADI's industrial segment sustain growth momentum?

Analog Devices Price Performance

Shares of Analog Devices stock opened at $376.63 on Wednesday. The business's fifty day moving average price is $390.37 and its 200 day moving average price is $370.30. Analog Devices, Inc. has a twelve month low of $223.47 and a twelve month high of $445.91. The company has a current ratio of 1.75, a quick ratio of 1.34 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $183.45 billion, a P/E ratio of 55.96, a PEG ratio of 1.01 and a beta of 1.20.

Analog Devices (NASDAQ:ADI - Get Free Report) last released its quarterly earnings data on Wednesday, May 20th. The semiconductor company reported $3.09 EPS for the quarter, topping analysts' consensus estimates of $2.89 by $0.20. The company had revenue of $3.62 billion for the quarter, compared to the consensus estimate of $3.51 billion. Analog Devices had a return on equity of 14.37% and a net margin of 26.01%.The company's quarterly revenue was up 37.2% compared to the same quarter last year. During the same period last year, the business posted $1.85 EPS. As a group, research analysts anticipate that Analog Devices, Inc. will post 12.42 earnings per share for the current year.

Insider Buying and Selling at Analog Devices

In other Analog Devices news, SVP Martin Cotter sold 17,594 shares of Analog Devices stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $418.00, for a total transaction of $7,354,292.00. Following the transaction, the senior vice president directly owned 56,332 shares of the company's stock, valued at $23,546,776. The trade was a 23.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Karen Golz sold 1,000 shares of the business's stock in a transaction that occurred on Monday, July 13th. The stock was sold at an average price of $389.83, for a total transaction of $389,830.00. Following the sale, the director owned 11,019 shares of the company's stock, valued at approximately $4,295,536.77. This represents a 8.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 105,274 shares of company stock worth $42,247,986 in the last quarter. Company insiders own 0.36% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on ADI shares. Weiss Ratings downgraded Analog Devices from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Tuesday, July 28th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $550.00 price objective on shares of Analog Devices in a research note on Monday. Bank of America increased their price objective on shares of Analog Devices from $425.00 to $460.00 and gave the stock a "buy" rating in a report on Thursday, May 21st. TD Cowen raised their target price on shares of Analog Devices from $450.00 to $460.00 and gave the stock a "buy" rating in a research report on Monday, July 13th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Analog Devices from $400.00 to $450.00 and gave the company an "overweight" rating in a report on Tuesday, May 26th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $441.00.

Analog Devices Company Profile

Analog Devices, Inc NASDAQ: ADI is a multinational semiconductor company that designs, manufactures and markets a broad portfolio of analog, mixed-signal and digital signal processing integrated circuits. Founded in 1965 by Ray Stata and Matthew Lorber, the company has grown into a leading supplier of components that convert, condition and process real-world signals for electronic systems. Analog Devices is headquartered in Massachusetts and serves customers around the world across multiple end markets.

The company's product lineup includes data converters (ADCs and DACs), amplifiers, power management ICs, radio-frequency (RF) and microwave components, sensors and MEMS devices, signal chain and isolation products, timing and clocking solutions, and embedded processors and software for system-level design.

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This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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